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Pound falls to a two-week low versus yen on BoJ hike bets
GBP/JPY traded around 207.80 to 207.70, down about 0.3% on the day, as yen demand rose on renewed expectations of faster BoJ rate hikes.
The British pound weakened against the Japanese yen, with the GBP/JPY cross sliding to a two-week low during the first half of the European session on Monday after an earlier intraday rise toward 209.00, according to FXStreet.
Spot GBP/JPY prices were last seen near 207.80 to 207.70, down around 0.3% for the day, with the article attributing the move to renewed demand for the yen.
FXStreet linked the yen strength to minutes from the Bank of Japan's July monetary policy meeting, released earlier Monday, which suggested policymakers discussed whether faster rate hikes are needed amid inflation risk, lifting expectations that another hike could come as soon as October or December.
The outlet also cited intervention risks, noting Japan's Finance Minister Satsuki Katayama said US President Donald Trump raised concerns about yen depreciation with Japan's Prime Minister Sanae Takaichi during the UN General Assembly last week, fueling speculation of further joint currency actions.